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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain
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EFCC withdraws charges against ex-Oyo Head of Service, 11 others.

The Economic and Financial Crimes Commission (EFCC) on Friday withdrew the charges against ex-Oyo State Head of Service, Alhaja Kudirat Adeleke, and 11 others arraigned for alleged N5.6 billion pension scam.
The commission announced its intention of discontinuance with the suit before Justice Laniran Akintola of an Oyo State High Court in Ibadan.
Others linked with the alleged scam are Muili Aderemi, Iyabo Giwa, Adesina Ayoade, Oguntayo Banji, Adebiyi Musenbiq, Muili Adedamola, Adeduntan Johnson, Bosede Johnson, Kareem Rasheed, Olujimi Adebayo and Adewale Kehinde.
The EFCC’s counsel, Mr Simon Ibekwute, informed the court on Friday that the commission wants the case to be discontinued as contained in the notice of discontinuance dated Feb. 6 and filed on Feb. 9.
Ibekwute told the court that not all the parties involved in the matter had been served and prayed for an adjournment to enable him serve them.
Reacting, counsel to Adeleke, Mr Richard Ogunwole (SAN), urged EFCC’s counsel to ensure that service was done early in order to ascertain the next line of action.
Read More: EFCC tackles oil firm, ex-accountant in court over Lekki land
Ogunwole expressed dismay at the case, saying the property of the defendants had been with the EFCC since 2013.
Other defence counsel aligned with the submission of Ogunwole.
Akintola adjourned the case till May 4 to enable EFCC’s counsel serve notice of discontinuance on the counsel of the defendants.
The News Agency of Nigeria (NAN) reports that Adeleke and 11 others were charged with defrauding the Oyo State Local Government Staff Pension Board to the tune of N5.6 billion.
The defendants were arraigned on a 213-count charge bordering on conspiracy, obtaining money by false pretences as well as fraud and forgery.

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